BI Asset Management Fondsmaeglerselskab A S Purchases 657 Shares of Martin Marietta Materials, Inc. (NYSE:MLM)

BI Asset Management Fondsmaeglerselskab A S lifted its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 64.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,681 shares of the construction company’s stock after buying an additional 657 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Martin Marietta Materials were worth $839,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new position in Martin Marietta Materials in the 4th quarter worth approximately $26,000. MV Capital Management Inc. raised its stake in shares of Martin Marietta Materials by 144.4% in the third quarter. MV Capital Management Inc. now owns 66 shares of the construction company’s stock worth $27,000 after purchasing an additional 39 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at $27,000. Benjamin Edwards Inc. boosted its position in shares of Martin Marietta Materials by 78.8% during the fourth quarter. Benjamin Edwards Inc. now owns 59 shares of the construction company’s stock valued at $29,000 after buying an additional 26 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Martin Marietta Materials by 84.6% during the third quarter. Covestor Ltd now owns 72 shares of the construction company’s stock valued at $30,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MLM. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $600.00 price target (up from $530.00) on shares of Martin Marietta Materials in a research report on Friday, March 22nd. HSBC upgraded Martin Marietta Materials from a “reduce” rating to a “hold” rating and upped their price target for the stock from $376.00 to $543.00 in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their target price on shares of Martin Marietta Materials from $642.00 to $737.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James upped their price target on shares of Martin Marietta Materials from $505.00 to $555.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Citigroup lifted their target price on shares of Martin Marietta Materials from $635.00 to $708.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $610.27.

Insider Buying and Selling at Martin Marietta Materials

In other news, EVP Roselyn R. Bar sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the sale, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Martin Marietta Materials news, CEO C Howard Nye sold 15,000 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $604.26, for a total transaction of $9,063,900.00. Following the completion of the transaction, the chief executive officer now directly owns 134,640 shares of the company’s stock, valued at $81,357,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Roselyn R. Bar sold 10,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $603.29, for a total transaction of $6,032,900.00. Following the completion of the sale, the executive vice president now directly owns 59,970 shares in the company, valued at approximately $36,179,301.30. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.

Martin Marietta Materials Trading Down 1.3 %

Shares of MLM stock opened at $573.78 on Thursday. The company has a current ratio of 3.16, a quick ratio of 2.41 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $35.37 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95. Martin Marietta Materials, Inc. has a 12-month low of $389.90 and a 12-month high of $626.67. The stock’s 50-day moving average price is $599.75 and its 200-day moving average price is $538.46.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.05. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. Martin Marietta Materials had a return on equity of 14.74% and a net margin of 31.35%. The company’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS. Equities research analysts predict that Martin Marietta Materials, Inc. will post 21.88 EPS for the current fiscal year.

Martin Marietta Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, June 3rd. Martin Marietta Materials’s payout ratio is 8.77%.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.